Enter the website of any health supplement company active in Hong Kong and you will most likely be greeted by pictures of their NMN products. A precursor of NAD+ and a form of vitamin B3, NMN has become highly popular in mainland China during the thick of COVID-19. Popularised by the brand Doctor’s Best in China, NMN has come to be associated with longevity.
The wave has since spread to Hong Kong, with more than 30 brands of NMN products available, according to the observations of herbal products maker Nin Jiom, which is also best known for its Pei Pa Koa cough syrup. This is also a reason why the company has since the domestic market is already overcrowded. The reduced foot traffic from mainland Chinese visitors – who used to be a core group of nutraceutical consumers before the pandemic – has been another market challenge for Hong Kong health supplement firms, although numbers from China has rebounded in recent months.
Add the massive number of Hongkongers travelling north to neighbouring Chinese city Shenzhen for weekend shopping, local companies now have another challenge to solve – how can they keep local consumers engaged and buy products locally? Take the first weekend of August this year for example, there were records of 92,753 Hong Kong residents traffic going out of the city through Shenzhen Bay. The figure was 60,019 last year same time, based on Hong Kong Immigration Department data. The trend of travelling up to Shenzhen does not seem like it will sl.